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Mortgage Market Update
My Mortgage Company
Innovative Home Loans
Tuesday, November 3, 2026
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Your down payment has more flexibility than you think |
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Not every homebuyer needs the same down payment strategy. Here's what really matters when you're deciding how much to save.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Loan Programs
What your down payment actually buys you
When you're saving for a home, it's easy to fixate on that down payment number—like hitting 20% is the finish line. But here's what I see borrowers miss: your down payment is really about options. A smaller down payment doesn't disqualify you; it just changes which loan program makes the most sense for your situation. Some programs let you put down less and still get a solid rate. Others ask for more up front but save you money over time. The point is, there's usually a path that fits your timeline and budget. The real work is figuring out which trade-offs matter most to you—and that's exactly what I help with. If you're thinking about buying soon or wondering whether your savings are "enough," let's talk through what's actually possible. Reach out anytime you want to explore what down payment options look like for your situation.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Innovative Home Loans
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